The board of directors of Egypt’s Duty-Free Shops has approved the budget for the fiscal year 2022-2023.
The company stated in a press release to the Egyptian Stock Exchange today, Tuesday, that it aims to achieve a net profit of 80.31 million pounds during the upcoming fiscal year, compared to an expected profit of about 160.38 million pounds by the end of the current fiscal year.
The company is targeting revenues of 677 million pounds for the next fiscal year, compared to expected revenues of 837.31 million pounds by the end of the current fiscal year.
It is worth noting that Egypt’s Duty-Free Shops recorded a net profit of 136.35 million pounds from July to the end of March, compared to 91.84 million pounds during the same period last fiscal year.
The share of the holding company’s equity holders during the nine months was about 135.98 million pounds, compared to 91.54 million pounds during the same period last fiscal year.
Meanwhile, the minority rights share of the profits during the period was around 371.23 thousand pounds, compared to 302.9 thousand pounds during the same period last fiscal year.
The company’s revenues during the first nine months of the current fiscal year rose to 655.08 million pounds, compared to 505.87 million pounds during the same period of the previous fiscal year.
